21st, Philips Lighting revealed the second quarter of 2017 results, the company 2Q17 sales of 1.699 billion euros (the renminbi about 13.403 billion yuan), net revenue rose from a year earlier 28.1% to 73 million euros (about 576 million yuan).

In terms of market region, Europe's growth is strong and the American market continues to weaken. The Middle East, Turkey, and Saudi Arabia in particular, remain challenging. In the second quarter of 2017, Philips Lighting achieved lamps sales of 458 million euros, led sales of 426 million euros, professional product sales of 668 million euros, and home product sales of 146 million euros.

2017 second quarter results highlights.

Sales amounted to 1.699 billion euros, a 1.8% decline in sales;

Overall led sales rose 14%, accounting for 63% of total sales, compared with 53% in the second quarter of 2016;

Adjusted earnings pre-tax profit (adjusted EBITA) was € 174 million, compared to 161 million euros in the second quarter of 2016;

Adjusted pre-tax profit margin (adjusted EBITA margin) was 10.2%, while the second quarter of 2016 was 9.3%;

Net income amounted to € 73 million, compared with 57 million euros in the second quarter of 2016;

Free cash flow was € 27 million, which amounted to € 60 million in the second quarter of 2016.

Philips Lighting in the second quarter, the core earnings growth ideal, because LED lights and household lighting products business profit growth, offset the traditional lighting business continued to decline caused by the decline in revenue. In addition, according to financial results, the company in the first half of 2017 sales amounted to 3.389 billion euros (about 26.732 billion yuan), of which lamps sales amounted to 955 million euros, led sales of 848 million euros, professional products business sales of 1.289 billion euros and household products business sales of 294 million euros.

2017 first half performance highlights

Sales amounted to 3.389 billion euros, a 1.3% decline in sales;

Overall led sales growth of 17%, accounted for 62% of total sales, while the first half of 2016 accounted for 52%;

Adjusted earnings pre-tax profit (adjusted EBITA) was € 317 million, compared to 282 million euros in the first half of 2016;

Adjusted pre-tax profit margin (adjusted EBITA margin) was 9.4%, while the first half of 2016 was 8.2%

Net income amounted to € 134 million, compared with 71 million euros in the first half of 2016

Free cash flow is € 26 million, compared to € 18 million in the first half of 2016.